Szczecin city center to undergo regeneration

In the coming days Spanish development company CR is to start rebuilding the square near the Brama Portowa in Szczecin, which should be finished by the end of 2004 at a cost of over zl. 630 million. The jewel in the crown of the regeneration will involve creating a commercial complex in the centre of Szczecin, costing around zl. 400 million. According to CR owner Carlos Roizner, the investment would be 60% financed from CR's own capital with the remainder coming from loans. "The only unsolved problem is relocating the telecommunications network, but we are negotiating this issue with Tel ekomunikacja Polska," added Roizner. The company acquired land from Sz czecin's city council at the end of 2000 and paid zl. 4.3 million for the perpetual usufruct title to a 1,300 square meter plot. (Puls Biznesu, p. 10) M.M.